Welcome to my investment blog where I share with you my analysis of REITs in Singapore.

I hope that my investment philosophy will bring me a steady stream of income apart from my job. I am aiming for at least $3,000 per month which can sustain the current expenses of myself and my family.

Do enjoy reading my blog and post any comments that you have. I welcome them because it is a time to learn from each other.

When I am looking at investing in REIT, here are some of the guidelines that I am looking at. Feel free to comment on it. I am willing to listen to ideas.

-> at least 8% yield.
-> Price that is lower than its NAV.
-> Low gearing (if possible)
-> High secured NAV.

Current Dividend income is $3,800/month.

Thursday, June 4, 2015

Analysis of Croesus Retail Trust

Current Price on 28th May 2015 = $0.945
  • Yield = 8.09%  
  • Price-to-book Ratio = 1.147
  • Assets per unit = $2.012
  • Debt per unit = $1.193 (including current liabilities)
  • Gearing = 59.3%
Croesus Retail Trust is one which I recently bought and sold quickly due to change of strategy. They announce their results which does not look good at all. And I am glad that I sold it before they announce their results.

Their yield is still high at 8.09% but it has dropped dramatically from 2.08 cents in the earlier quarter. Thus, it shows uncertainty in the yield. Moreover, the price-to-book ratio is at 1.147 which is not good at all Its gearing is actually very high 59.3% which is at dangerous level.

As Japan is printing money so its interest rates will continue to be low but it also means that the asset values will get smaller because of the drop in Japanese Yen. The drop in Japanese Yen will help to improve the retail receipts especially from foreigners but I am not sure how much.

I am just glad that I managed to sell it off before the drop. I won't consider this again unless they reduce their gearing and their price-to-book ratio drops to below 1.


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